Yellen: Globalization Makes Higher Education Increasingly Important

Fed leader says she sees indications that wage growth is picking up

David Harrison

Federal Reserve Chairwoman Janet Yellen defended the value of higher education as a protection against the pressures of technological change and globalization.

A college degree increasingly will be important in helping workers compete in a world-wide labor market that is constantly inventing ways to replace people with machines, she told the graduating class of the University of Baltimore on Monday.